Retail Merchant Accounts

A Retail Merchant Account is descriptive of a merchant who will be processing the majority of their transitions with the customer’s card present at the time of sale. Most commonly this can via a “swipe” transaction or contactless payment system.

Because the credit card is present at the time of the sale, there is less of a concern for fraudulent transactions. And due to this reduction in risk, Retail Merchant Accounts rates are among the best available.

For reference, this type of account may often be referred to as a swipe, CP, or Card Present account and serves as the foundation for rate structures common with markets, gift shops, restaurants, and many service based ventures.

What you should know about Retail Merchant Accounts

Having the credit card present at time of the transaction may reduce the likelihood of fraudulent charges, but there are many other important variables to consider when developing an appropriate rate structure for a retail merchant account.

Because transactions are “Swiped”, Retail Merchant Accounts rates are among the best available.

One such example is based on the transaction volume and Average Ticket Size (AVT). Consider a kiosk vendor at the mall that sells jelly beans. The related sales behavior is likely to be a moderate number of transactions with a low AVT. Well, should someone fraudulently purchase a couple of dollars of jelly beans, it poses no great risk to either the merchant or the processing entity. Likewise, product returns or charge-backs (customer disputed charges) are also not likely to be of great exposure.

The risk of product returns and charge-backs can increase as the Average Ticket Size increases. Understandably, as the price of a product increases, customers are more critical of the cost and value of that product or service. But even this gets more detailed depending on the types of products sold.

And finally, there is a whole segment of merchant accounts that might be deemed as “high risk” based on the product type, service, or entity. For more information about this segment of accounts, please visit “High Risk Ventures” Section.

Interested in what 1st National can do for your business? Give us a call or complete our “quick quote” request. Between our well rounded inventory, Class A Settlement Banks & Processors, and a full suite of Merchant Services, our talented agents are sure to be of value.

Toll Free: (877) 964-1622

Retail Credit Card Processing Equipment Examples

1st National has an excellent history of providing the appropriately structured Retail Merchant Accounts. Likewise, we also have a complete and varied inventory of Credit Card Machines, PC Processing Software, Point of Sale Systems (POS Systems), and Electronic Cash Registers. We also provide both basic and advanced Smartphone solutions, many of which can be used in combination with other retail related solutions.

If you are looking for a competitive solution for both your rate structure and your equipment needs, 1st National can provide resources, flexibility, and the support that you can’t find elsewhere.

For those of you who are 1st National customers you should be aware that your discounts can be quite aggressive, so please make sure you talk to us before purchasing from our cart.